Expert guidance on

structuring for success

Let's

break it down

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Initial consultation

We begin with an in-depth consultation to understand your company's tax needs and gather relevant financial information.

Structure selection

Advise on the best structure based on your needs.

Setup and registration

Set up your desired structure and assist with regulatory requirements, including ABN and TFN applications.

Ongoing support

Provide continuous support as your business grows.

Business structures

Sole trader

Benefits:

  • Simple: Easy to set up with minimal legal requirements.
  • Full control: You make all business decisions.
  • Low costs: Setup and ongoing costs are cheaper than other structures.

Drawbacks:

  • Unlimited liability: You're personally responsible for all business debts.
  • Higher taxes: Taxed at individual rates, which rise with income.
  • Limited growth: Harder to raise capital and expand.

Setup costs:

  • Formation fee: $200 (including ABN application)
  • Business name registration: $250

Total: $450

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Partnership

Benefits:

  • Shared responsibility: Split risks, rewards, and duties.
  • Combined resources: Pool expertise for growth.
  • Tax advantages: Profit split lowers tax liability.

Drawbacks:

  • Unlimited liability: Partners cover all debts.
  • Potential conflicts: Disagreements can affect business.
  • Complexity: Harder to set up than sole trader.

Setup costs:

  • Formation fee: From $750 (including ABN & TFN)
  • Business name registration: $250

Total: $1000

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Company

Benefits:

  • Asset protection: Trust assets are shielded from creditors.
  • Tax efficiency: Income distribution can reduce taxes.
  • Estate planning: Useful for managing and transferring wealth.

Drawbacks:

  • Complexity: More complicated than sole traders and partnerships.
  • Costs: Higher setup and admin fees.
  • Regulations: Must follow trust deed and legal obligations.

Setup costs:

  • Formation fee: From $750 (including ABN & TFN)
  • Business name registration: $250

Total: $1000

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Trust

Benefits:

  • Limited liability: Shareholders aren't personally liable for debts.
  • Tax benefits: Corporate rates may be lower than individual rates.
  • Growth potential: Easier to raise capital and expand.

Drawbacks:

  • Complexity: More difficult and costly to set up.
  • Regulations: Must comply with strict standards.
  • Management: Requires a formal structure.

Setup costs:

  • Formation fee: From $1550 (including ABN & TFN)
  • Business name registration: $250

Total: $1800

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Why

choose us

Expertise

Benefit from our extensive experience in handling personal tax matters.

Tailored tax advice

Receive customised tax advice tailored to your unique circumstances.

Compliance

Ensure your tax obligations are met with confidence and accuracy.

Support

Get ongoing support and advice for your tax planning and preparation needs.

Frequently

asked questions

What is the best business structure for my new venture?

The best business structure depends on your specific needs, goals, and circumstances. We can help you choose the right structure through a detailed consultation.

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How much does it cost to start a sole trader business?

The setup costs for a sole trader business include a formation fee of $200 (including ABN application) and a business name registration fee of $250, totaling $450.

Start Your Business
What are the benefits of forming a partnership?

Forming a partnership offers shared responsibility, combined resources, and tax advantages. However, it also involves unlimited liability and potential conflicts.

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How much does it cost to set up a trust?

The setup costs for a trust include a formation fee starting from $1550 (including ABN & TFN) and a business name registration fee of $250, totaling $1800.

Set Up a Trust
What are the advantages of setting up a company?

Setting up a company provides limited liability, tax benefits, and growth potential. However, it involves more complexity and higher costs.

Learn More
What are the tax implications of different business structures?

Each business structure has different tax implications. We provide detailed advice on the tax benefits and obligations of each structure to help you make an informed decision.

Get Tax Advice
When should I consider changing my business structure?

You should consider changing your business structure if your business is growing, your income is increasing, or you need better asset protection and tax efficiency.

Explore New Structures
How does AccountsDynamic help with business setup?

We assist with selecting the best structure, setting up and registering your business, and ensuring compliance with regulatory requirements, including ABN and TFN applications.

Get Started
Can AccountsDynamic assist with ABN and TFN applications?

Yes, we help with ABN and TFN applications as part of our business setup services to ensure you meet all regulatory requirements.

Apply Now
What are the ongoing compliance requirements for different business structures?

Ongoing compliance requirements vary by structure. We provide continuous support to ensure your business meets all legal and tax obligations.

Ensure Compliance
How long does it take to set up a business structure?

The time required to set up a business structure depends on the complexity of the structure. We aim to complete the setup process as efficiently as possible.

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Ready to take control

of your finances?